Investment Daily Note

Fed’s Beige book reported that U.S. economy grew moderately across most of the regions, causing the labor market to tighten and nudging wages higher. We believe the markets would keep a wait-and-see attitude for the May job report which will be released on this Friday. It is estimated that 150-day MA would be the upper limit for HSI.

Reported by Bloomberg, Googleis planning to sell about 371 million shares of Lenovo (992.HK)in a range of HK$4.56 to HK$4.62 per share that represents a discount of 4% to 2.7% to the last closing price. We estimate stock price would extend its weakness.